Glencore Sends a Oil Tanker Thousands of Miles to Dodge Chaos of Panama Canal
Cargo ships wait in the anchor zone to cross the Panama Canal near Panama City, Panama.
Photographer: Walter Hurtado/BloombergThis article is for subscribers only.
An oil tanker carrying fuel to New York is adding thousands of miles to its journey in order to avoid disruption at the Panama Canal.
The High Loyalty, chartered by ST Shipping — a subsidiary of Glencore — is currently sailing round South America, according to shipping and vessel-movement data compiled by Bloomberg News. This diversion is allowing the ship to dodge the costs and unpredictability currently involved in passing through the canal.